| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 29th | Poor |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 9429 Van Nuys Blvd, Panorama City, CA, 91402, US |
| Region / Metro | Panorama City |
| Year of Construction | 1990 |
| Units | 40 |
| Transaction Date | 2017-02-08 |
| Transaction Price | $9,940,000 |
| Buyer | The Ekins Family Trust |
| Seller | --- |
9429 Van Nuys Blvd Panorama City Multifamily Investment
This 40-unit property benefits from strong neighborhood-level occupancy rates of 97.8%, ranking in the top quartile nationally according to CRE market data from WDSuite. The Urban Core location supports consistent rental demand with 69.7% of housing units renter-occupied.
This Urban Core neighborhood demonstrates solid fundamentals for multifamily investment, with neighborhood-level occupancy reaching 97.8% - placing it in the 88th percentile nationally among 1,441 metro neighborhoods. The area maintains a strong rental orientation, with 69.7% of housing units renter-occupied, ranking in the 97th percentile nationwide and supporting consistent tenant demand.
Built in 1990, this property aligns with the neighborhood's average construction year of 1982, positioning it competitively within the local building stock without significant vintage disadvantages. Median contract rents of $1,524 have grown 29.4% over five years, while demographic data aggregated within a 3-mile radius shows household income growth of 33.3% over the same period, supporting rent growth sustainability.
The neighborhood offers exceptional amenity density that supports tenant retention, ranking in the 78th percentile nationally for overall amenities. Grocery store access ranks in the 99th percentile with 8.56 stores per square mile, while restaurant density of 52.32 per square mile also ranks in the 99th percentile nationally. This amenity concentration enhances the area's appeal to renters seeking urban convenience.
Forward-looking demographics within the 3-mile radius project household growth of 31.6% through 2028, expanding the potential renter pool. Median household income is forecast to increase 34.9% to $100,537, while median contract rents are projected to rise 28.9% to $2,118, indicating sustained rental demand with improving affordability metrics for tenants.
Safety metrics show a mixed but improving profile for the neighborhood. Property crime rates rank 463rd among 1,441 metro neighborhoods, placing it slightly above the metro median. However, recent trends are notably positive, with property crime declining 84.1% year-over-year, ranking in the 98th percentile nationally for improvement.
Violent crime rates are lower at 50.3 incidents per 100,000 residents, though ranking 768th among metro neighborhoods indicates room for improvement. The trend direction remains favorable, with violent crime decreasing 91.1% year-over-year, ranking in the 99th percentile nationally for reduction. These improving safety trends support neighborhood stability and tenant retention prospects.
The property benefits from proximity to major corporate employers across entertainment, telecommunications, and insurance sectors, providing diverse employment opportunities that support rental demand stability.
- Charter Communications — telecommunications (6.7 miles)
- Radio Disney — entertainment media (8.7 miles)
- Disney — entertainment conglomerate (9.3 miles) — HQ
- Thermo Fisher Scientific — life sciences (9.3 miles)
- Farmers Insurance Exchange — insurance services (9.5 miles) — HQ
This 40-unit property offers stable cash flow potential anchored by exceptional neighborhood-level occupancy of 97.8%, ranking in the 88th percentile nationally. The 1990 construction year positions the asset for potential value-add improvements while avoiding major structural obsolescence. Strong rental market fundamentals include 69.7% renter occupancy rates ranking in the 97th percentile nationwide, supporting consistent tenant demand in this Urban Core location.
Demographic projections within the 3-mile radius show household growth of 31.6% through 2028, expanding the renter pool while median household income is forecast to increase 34.9% to $100,537. According to multifamily property research from WDSuite, these fundamentals align with rent growth sustainability as median contract rents have already grown 29.4% over five years. The property benefits from exceptional amenity density ranking in the 78th percentile nationally, supporting tenant retention and competitive positioning.
- Neighborhood occupancy of 97.8% ranks in top quartile nationally among 1,441 metro areas
- Strong rental market with 69.7% renter-occupied units ranking 97th percentile nationwide
- Household growth of 31.6% projected through 2028 within 3-mile radius
- 1990 vintage allows value-add potential without major structural concerns
- Risk consideration: Below-average school ratings may limit appeal to family renters